Competitive pressures abound, but in-store investments support Dollar General's competitive edge.
We continue to view narrow-moat Dollar General as undervalued after first-quarter results that leave the company on pace to meet our full-year expectation of 7.5% sales growth and operating margins of 8.7% (down from 9.4% in 2016). As such, we plan to maintain our $82 fair value estimate and 10-year forecast, which calls for 6.1% top-line growth, driven by comparable-store sales of 2.1%, and operating margins of 8.8% on average.During the quarter, operating margins were down 70 basis points yea...
Dollar General is a discount retailer. The company's consumables products includes paper and cleaning products, packaged food, perishables, snacks, health and beauty, pet, and tobacco products. The company's seasonal products include decorations, toys, batteries, small electronics, greeting cards, stationery, prepaid phones and accessories, gardening supplies, hardware, automotive and home office supplies. The company's home products include kitchen supplies, cookware, small appliances, light bulbs, storage containers, frames, candles, craft supplies and kitchen, bed and bath soft goods. The company's apparel includes casual everyday apparel, as well as socks, underwear, disposable diapers, shoes and accessories.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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